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Chapter 13 Can Protect Your Assets and Help You Gain Financial Relief

Termination from your job, a change in your family dynamics or a sudden illness can severely impact your financial wealth. You can quickly go from being able to afford paying your living expenses to struggling with making ends meet when you fall on hard times financially. This can be a very stressful time for your family, especially if the setback is only temporary. The last thing you want to worry about is losing your home, automobiles, and other assets while you are trying to improve your finances. Fortunately, an answer is available when you select to file for Chapter 13 in Valdosta to find debt relief.

How You Can Benefit  

Unlike Chapter 7 bankruptcy that requires you to liquidate your assets to repay creditors. Chapter 13 in Valdosta area is a repayment plan that will allow you to keep your possessions while you consolidate the expenses into one lump payment that is made monthly. This payment is made to a trustee, who will disburse the money to your creditors over a three to five-year span until your bankruptcy is discharged. Not only will you find a more financially affordable way to repay your debts, you gain the benefit of stopping creditors from harassing you for the money you owe.

Gain More Information by Consult an Attorney

If you are experiencing a temporary financial problem and want to protect your property, turn to Charles Farrell Jr Attorney at Law for the answer you need. They will supply you with the valuable information you require to make a well-educated decision to find financial relief. You can gain the expertise and knowledge required to successfully file a bankruptcy claim and reclaim your financial freedom. Why should you continue to struggle alone with your financial problem when a solution is just a phone call away?